Economic calendar: US CPI and retail sales among key reports of this week 📃

Today is particularly calm in terms of macroeconomic publications. No major reports are scheduled, and the market in Japan remains closed due to a holiday. On the stock market, investors will receive reports from Barrick Gold and Monday.com before the opening of the cash session in the U.S.

The most important report of the week is undoubtedly the U.S. CPI inflation report, which will be released on Wednesday at 1:30 PM BST. Expectations indicate a reading of 3.00% year-on-year, unchanged from the June reading. However, there is speculation that the data might show a drop below the 3.00% level for the first time.

The second most important report this week, after the CPI, will be retail sales. The publication is scheduled for Thursday at 1:30 PM BST. After three weaker months, retail sales are expected to rebound to 0.3% month-on-month in July. However, consumer sentiment remains low, not indicating a strong improvement in the situation. High interest rates and a cooling labor market may exert increasing pressure on U.S. consumers.

Detailed weekly calendar:

August 12: Monday 

• 08:00 am BST - Czech Republic, inflation for July

August 13: Tuesday

• 02:30 am BST - Australia, consumer confidence for August

• 07:00 am BST - UK, labor market data for June

• 10:00 am BST - Germany, ZEW index for August

• 01:30 pm BST - USA, PPI inflation for July

• 09:40 am BST - USA, API data on oil inventories

August 14: Wednesday

• 03:00 am BST - New Zealand, RBNZ decision

• 07:00 am BST - UK, CPI inflation for July

• 09:00 am BST - Poland, GDP report for Q2

• 10:00 am BST - Eurozone, GDP report for Q2

• 01:30 pm BST - USA, CPI inflation for July

• 03:30 pm BST - US, DOE oil inventories data 

August 15: Thursday

• 00:50 am BST - Japan, GDP report for Q2

• 02:30 am BST - Australia, labor market data for July

• 03:00 am BST - China, retail sales/industrial production for July

• 07:00 am BST - UK, GDP report for Q2

• 08:00 am BST- Switzerland, GDP report for Q2

• 09:00 am BST - Norway, Norges Bank decision

• 01:30 pm BST - USA, retail sales for July

• 02:15 pm BST - USA, industrial production for July

• 03:30 pm BST - USA, EIA data on natural gas inventories

August 16: Friday

• 07:00 am BST - UK, retail sales for July

• 01:00 pm BST - Poland, core inflation for July

• 03:00 pm BST - USA, UoM data for August